The landscape of healthcare is changing. We are living in a time of vast movement, where innovation in healthcare technology is changing the way we approach medicine. Telemedicine is one such innovation, a digital patient management scheme revolutionizing the doctor-to-patient interaction. Telemedicine creates a system where patients are able to seek consultation from the comfort of home as opposed to face-to-face interaction.
New avenues of healthcare technology such as telemedicine require an experienced and innovation-driven infrastructure that can properly handle the new workflow. One of our providers, Upstate Concierge Medicine, needed a financial solution that could enable its telemedicine platform. As such, we’ve partnered with IntegrityPays, an innovative financial solution company to handle our goals of pushing the bounds of medicine.
The Problem
When we look at the way billing is managed in healthcare now, we see the majority of it being fee-for-service. A patient visits a provider for care, and they are billed for each specific treatment during the visit. This fee-for-service type structure has been a staple in health care, and though it has its benefits, it did not work for Upstate Concierge.
Upstate Medicine Concierge created a healthcare platform based on telemedicine to provide care to its patients. They provide on-call telemedicine to workers at 90 companies in the Albany area and the Northeast. Telemedicine doesn’t just help manage patient load. By providing an electronic way to provide patient care, it reduces the frequency of in-house encounters, therefore saving time and costs. Less in-house patient encounters equate to reduced costs for everyone.
“The value proposition for the is the ability to expand their geographic reach, take on more lives, treat patients simply and affordably through telemedicine, but when things are more complex, you can filter them back into your hospital system,” Upstate Concierge Medicine CEO Keith Algozzine said. “There’s also the cost savings to treating people where they are rather than at a hospital.”
The telemedicine platform of Upstate Concierge required a monthly recurring payment system which enabled patients to see doctors on hand from the comfort of home, versus going in for an appointment. The current billing vendor in Upstate did not support the recurring payments method needed to facilitate the telemedicine platform. Upstate needed Bizmatics to work with a vendor ready to enable Upstate’s telemedicine capabilities.
Enter IntegrityPays Financial Solution Provider
After much consultation, Bizmatics partnered with IntegrityPays to enable Upstate’s telemedicine capabilities. IntegrtiyPays is a financial solutions provider that creates secure payment gateways for its clients and created a way for Bizmatics to provide a payment solution for Upstate.
“Integrity is able to extend services for PrognoCIS’ providers beyond application integration, and into being a real business solution,” said Vinay Deshpande, Co-founder, CEO & President of Bizmatics. “This comprehensive payment solution of Integrity’s enables us to extend PrognoCIS to new business models such as subscription payment plans for a telemedicine provider network. In some of our practice management situations, Integrity is the only payment technology solution to satisfy the provider’s needs.”
IntegrityPays enabled Upstate to accept credit card payments from patients, directly through Upstate’s website. The information is then stored with IntegrityPays, allowing for a secure system of financial transaction.
The partnership with IntegrityPays creates a system where Upstate can provide its telemedicine capabilities without having to rely on the old fee-for-service system.
Further Spurring Innovation in Healthcare
As the landscape of healthcare is changing, it is important to stay at the forefront of innovation. By working with partners that share the same goals as us, we are able to provide better care to a wider audience.
Upstate’s telemedicine platform is at the forefront of revolutionizing the doctor-to-patient interaction. They are able to provide care in a fresh and exciting way, unseen by the industry in the past. They are able to reduce the frequency of in-house patient encounters while maximizing care.
By partnering with a financial solution like IntegrityPays that is willing to take on the task of telemedicine, we are pushing the boundaries of patient management. Providing the best care at the best cost is one of the goals at Bizmatics, and our work with Upstate Concierge and IntegrityPays is but a step towards a better future for healthcare in the US.
